PayPal Q3 Net Income Down 1% to $1.01 Billion Despite 5.8% Revenue Growth

SEC Track05:10

Core Highlights: - Net income decreased 1% to $1,010 million in Q3 2024 compared to Q3 2023. - Gross margin remained flat at 47.4% year-over-year. - Total revenue increased 5.8% to $7,847 million driven by TPV growth.
Revenue Breakdown: Transaction revenues grew 6.2% in Q3 2024 driven by growth in TPV from Braintree and core PayPal/Venmo products. Revenue from other value added services grew modestly by 2.1%. Expected lower Braintree transaction revenue growth in Q4 2024 and 2025 due to merchant negotiations.
Management Outlook: No specific outlook or commentary from management provided.
Operating Data: PayPal's current $7.3 billion cash balance could support around 1.8 years of operations under Q3 2024 profitability levels. Significant $4.8 billion spent on share repurchases in the first nine months of 2024, with $6.1 billion remaining under the current repurchase program.
Operational Risks: Key risk factors were not outlined in the filing.

Original Filing

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